Ethiopia Opens First Gold Refinery in Bid to Become Regional Precious Metals Hub
Ethiopia Launches First Gold Refinery with $50 Million Investment to Boost Gold Processing and Regional Trade
Ethiopia has officially launched its first gold refinery, marking a significant milestone in the country’s mining sector and its ambition to become a leading precious metals processing hub in East Africa.
The new facility was established through a $50 million joint venture and is expected to strengthen Ethiopia’s position in the regional gold value chain.
Prime Minister Abiy Ahmed announced the project, describing it as a strategic investment designed to increase local value addition and reduce the need for African gold producers to send their output overseas for processing.
Gold remains one of Ethiopia’s most important sources of foreign exchange earnings. Government figures show that gold exports generated approximately $5.6 billion in revenue for the country last year, underlining the metal’s growing importance to the national economy.
According to Abiy, the refinery will not only process domestically produced gold but will also serve neighbouring countries and regional mining companies.
The facility is intended to provide advanced refining, certification and marketing services, helping African producers keep more of the value generated from their resources within the continent.
The refinery will offer a comprehensive range of services, including gold melting, testing, refining, casting, bar minting and die-making.
These capabilities are expected to enhance product quality, improve traceability and support access to international markets.
State-owned Ethiopian Investment Holdings holds a majority stake in the venture, which the government views as a key step toward expanding the country’s mining and industrial sectors.
The launch reflects Ethiopia’s broader strategy to develop downstream mineral processing industries, attract investment and establish itself as a regional centre for precious metals refining and trade.
